Where Auto and Homeowners Insurance Rates Have Increased in Florida

Auto insurance and homeowners insurance rates per year have increased an average of $54 and $57 respectively in Florida since 2014, with some cities increasing by much as $320. In this study we take a look which parts of Florida have been most impacted, and address why these rate hikes may have happened in the first place.

How Insurance Rates Have Increased by County in Florida

Manatee County on the western coast of Florida had the largest overall rate hikes with an average increase of $214 combined between homeowners and auto insurance since 2014 - that's nearly 2x as fast as the state average. In both Manatee and Collier Counties, which had the second largest increase, auto insurance rates grew by about $125 over the three year span, outpacing home insurance rates by about $40. Miami-Dade was in the middle of the pack amongst the 67 Florida counties with the average rate hike being $115 over the three year span.

RankCountyRate IncreasePercent Difference from 2014Times the State Average Increase
1Manatee$2149.30%1.93x
2Collier$2068.80%1.86x
3Calhoun$1918.80%1.72x
4Nassau$1777.50%1.59x
5Indian River$1767.80%1.58x
6Palm Beach$1687.20%1.51x
7Jefferson$1637.30%1.47x
8Washington$1627.40%1.46x
9Saint Johns$1626.60%1.46x
10Columbia$1597.30%1.43x
11Charlotte$1567.00%1.4x
12Sarasota$1566.70%1.4x
13Monroe$1566.70%1.4x
14Lake$1556.80%1.39x
15Pasco$1546.80%1.39x
16Martin$1526.60%1.37x
17Volusia$1526.90%1.36x
18Osceola$1496.60%1.34x
19Broward$1416.00%1.27x
20Sumter$1406.30%1.26x
21Marion$1386.40%1.24x
22Hillsborough$1375.90%1.23x
23Santa Rosa$1365.50%1.23x
24Seminole$1335.50%1.2x
25Okaloosa$1325.80%1.19x
26Pinellas$1315.80%1.18x
27Clay$1315.40%1.18x
28Hernando$1305.90%1.17x
29Orange$1255.40%1.13x
30Flagler$1245.40%1.12x
31Polk$1245.60%1.12x
32Baker$1235.20%1.11x
33Gilchrist$1225.30%1.1x
34Putnam$1205.70%1.08x
35Liberty$1175.20%1.05x
36Miami-Dade$1155.10%1.03x
37Okeechobee$1145.20%1.02x
38Brevard$1134.90%1.01x
39Saint Lucie$1125.00%1.01x
40Bradford$1125.00%1x
41Bay$1104.90%0.99x
42Lee$1094.80%0.98x
43Highlands$1014.70%0.9x
44Suwannee$994.50%0.89x
45Holmes$994.50%0.89x
46Walton$974.20%0.87x
47Hamilton$954.30%0.86x
48Gadsden$954.20%0.85x
49Alachua$954.20%0.85x
50Taylor$934.20%0.84x
51Madison$914.10%0.81x
52Levy$904.10%0.81x
53Gulf$883.90%0.79x
54Escambia$873.90%0.78x
55Duval$833.70%0.74x
56Hardee$803.50%0.71x
57Franklin$683.10%0.61x
58Citrus$683.10%0.61x
59Hendry$592.60%0.53x
60Leon$512.20%0.46x
61Dixie$492.20%0.44x
62De Soto$442.00%0.4x
63Jackson$391.70%0.35x
64Wakulla-$6-0.20%-0.05x
65Glades-$65-2.90%-0.59x
66Lafayette-$84-3.50%-0.75x
67Union-$97-4.00%-0.87x
$111

Below you can see how rates increased across the state. Interestingly there were few correlations between rate hikes and area. The most common geographic factor for counties that saw the highest increase were those with coastlines and/or rivers. Counties above Miami-Dade, like Palm Beach, as well as counties between Gainesville and Orlando also saw higher than average increases.

Map shows how insurance rates have increased by county in Florida

How Insurance Rates Have Increased by City in Florida

Miami and Orlando overall were in line with the state average increase, while Jacksonville was actually below average. Within Miami-Dade, only 10% of cities had rate increases higher than $175, while over 41% had increases between $75 and $125. By far the most affected regions were Palm Beach County and Collier County where a majority of its towns and cities had rate increases greater than $175. For example, over half of all Boca Raton zip codes had increases greater than $175. Rates for the community of Parrish grew the most over the past several years, and increased 2.5x as fast as the average city in Florida.

RankCityRate IncreasePercent Difference from 2014Times the State Average Increase
1Parrish$32013.10%2.49x
2Montverde$28411.60%2.21x
3Myakka City$27411.00%2.13x
4Placida$26912.00%2.1x
5Marco Island$26210.90%2.04x
6Belleair Beach$2519.80%1.95x
7Valparaiso$25011.00%1.94x
8Zellwood$24611.70%1.91x
9San Antonio$24310.70%1.89x
10Osprey$2359.50%1.83x
11Bryceville$2339.70%1.81x
12Palmetto$23210.60%1.8x
13Weirsdale$23210.60%1.8x
14Key Largo$23210.00%1.8x
15Seville$23110.90%1.8x
16Ellenton$23110.80%1.8x
17Newberry$2319.40%1.8x
18Clarksville$22910.60%1.78x
19Land O Lakes$2299.10%1.78x
20Cortez$22410.10%1.74x
21Sorrento$2229.10%1.73x
22Odessa$2218.20%1.72x
23Ponte Vedra$2208.20%1.71x
24Fort White$21910.00%1.7x
25Caryville$2119.60%1.64x
26Malabar$2108.80%1.64x
27Bradenton$2079.00%1.61x
28Clermont$2068.80%1.6x
29Immokalee$20510.00%1.59x
30South Bay$20410.50%1.59x
31Astatula$2048.90%1.58x
32Mulberry$2038.90%1.58x
33The Villages$2028.80%1.57x
34Palm City$2028.10%1.57x
35Naples$2008.50%1.56x
36Wellington$1997.70%1.55x
37Boynton Beach$1998.30%1.54x
38De Leon Springs$1998.80%1.54x
39Dundee$1989.20%1.54x
40Jupiter$1987.80%1.54x
41Lithia$1977.20%1.53x
42Pierson$1969.20%1.52x
43Yulee$1968.20%1.52x
44Altha$1959.00%1.51x
45Mount Dora$1958.60%1.51x
46Boca Raton$1948.00%1.5x
47Wildwood$1938.90%1.5x
48Apollo Beach$1927.70%1.49x
49Indiantown$1928.60%1.49x
50Grant$1918.10%1.49x
51Polk City$1918.30%1.48x
52Pomona Park$1909.40%1.47x
53Saint Johns$1906.80%1.47x
54North Palm Beach$1888.10%1.46x
55Canal Point$1888.80%1.46x
56Baker$1877.90%1.46x
57Palm Beach$1877.40%1.45x
58Lamont$1878.40%1.45x
59Pembroke Pines$1866.90%1.45x
60Sanibel$1847.20%1.43x
61Earleton$1848.30%1.43x
62Tarpon Springs$1837.70%1.42x
63New Smyrna Beach$1838.20%1.42x
64Howey In The Hills$1827.80%1.42x
65Oxford$1817.80%1.41x
66Wimauma$1787.60%1.38x
67Hosford$1767.90%1.37x
68Apopka$1767.40%1.37x
69Vero Beach$1767.70%1.36x
70Saint Cloud$1767.50%1.36x
71Vernon$1758.00%1.36x
72Jay$1737.30%1.35x
73Callahan$1737.30%1.34x
74Maitland$1727.10%1.34x
75Windermere$1726.50%1.34x
76Ormond Beach$1727.80%1.33x
77Port Charlotte$1717.70%1.33x
78North Miami Beach$1707.70%1.32x
79Palm Beach Gardens$1706.90%1.32x
80Gibsonton$1707.50%1.32x
81Blountstown$1698.10%1.31x
82Dade City$1697.60%1.31x
83Summerland Key$1696.90%1.31x
84Saint Augustine$1687.00%1.3x
85Debary$1677.30%1.3x
86Hampton$1667.60%1.29x
87Anthony$1657.50%1.28x
88Hastings$1657.30%1.28x
89Lady Lake$1657.70%1.28x
90Hobe Sound$1657.00%1.28x
91Wesley Chapel$1646.50%1.27x
92Ochopee$1647.60%1.27x
93Umatilla$1637.30%1.27x
94Ruskin$1627.00%1.26x
95Geneva$1626.70%1.26x
96Fernandina Beach$1626.80%1.26x
97Yalaha$1627.00%1.26x
98Delray Beach$1627.30%1.25x
99Lake Mary$1616.40%1.25x
100Oviedo$1616.10%1.25x
101Estero$1616.60%1.25x
102Apalachicola$1617.50%1.25x
103Belleview$1607.40%1.24x
104Bokeelia$1607.30%1.24x
105Venice$1607.10%1.24x
106Lake Worth$1596.90%1.24x
107Florahome$1597.30%1.24x
108Orange Park$1596.60%1.24x
109Bonita Springs$1596.60%1.23x
110Crestview$1586.60%1.23x
111Deland$1587.20%1.23x
112Longwood$1586.20%1.23x
113Longboat Key$1576.10%1.22x
114Ebro$1577.10%1.22x
115Melrose$1577.10%1.22x
116Lake City$1577.30%1.22x
117Fellsmere$1577.10%1.22x
118Sarasota$1566.70%1.21x
119Cross City$1567.00%1.21x
120Lake Alfred$1557.20%1.21x
121Sumterville$1557.00%1.2x
122O Brien$1537.10%1.19x
123Marathon$1536.90%1.19x
124Riverview$1536.10%1.18x
125Greenville$1526.80%1.18x
126Ponte Vedra Beach$1525.80%1.18x
127Winter Garden$1516.00%1.17x
128Okahumpka$1516.80%1.17x
129Lutz$1516.00%1.17x
130Key Biscayne$1505.60%1.17x
131Salem$1506.90%1.16x
132Leesburg$1506.90%1.16x
133Bunnell$1506.80%1.16x
134Bradenton Beach$1506.70%1.16x
135Key West$1496.80%1.16x
136Niceville$1495.90%1.16x
137Freeport$1486.40%1.15x
138Hollywood$1486.20%1.15x
139Crescent City$1477.40%1.14x
140Osteen$1476.30%1.14x
141Summerfield$1476.60%1.14x
142Sun City Center$1477.00%1.14x
143Gulf Breeze$1475.70%1.14x
144Starke$1466.60%1.14x
145Tavares$1466.80%1.13x
146Daytona Beach$1467.10%1.13x
147Clearwater Beach$1466.20%1.13x
148Satellite Beach$1466.10%1.13x
149Pompano Beach$1456.20%1.12x
150Glen Saint Mary$1446.00%1.12x
151Orange City$1446.80%1.12x
152Fruitland Park$1446.40%1.12x
153Big Pine Key$1446.10%1.12x
154Patrick Afb$1447.20%1.12x
155Port Saint Lucie$1446.20%1.11x
156North Port$1436.20%1.11x
157Flagler Beach$1436.20%1.11x
158Groveland$1436.10%1.11x
159Seffner$1436.00%1.11x
160Mc David$1436.10%1.11x
161Atlantic Beach$1436.20%1.11x
162Yankeetown$1426.90%1.11x
163Englewood$1426.50%1.1x
164Frostproof$1426.60%1.1x
165Hudson$1426.60%1.1x
166Sebastian$1426.70%1.1x
167Trenton$1416.30%1.09x
168Morriston$1416.20%1.09x
169Monticello$1406.30%1.09x
170Fort Mc Coy$1406.70%1.09x
171Kenansville$1406.60%1.08x
172Winter Haven$1406.30%1.08x
173Palm Harbor$1395.80%1.08x
174Youngstown$1396.00%1.08x
175Laurel Hill$1396.20%1.08x
176Zephyrhills$1396.50%1.08x
177Fort Lauderdale$1395.80%1.08x
178Altamonte Springs$1396.30%1.08x
179Jensen Beach$1396.20%1.08x
180Edgewater$1386.30%1.07x
181Mascotte$1386.20%1.07x
182Ocala$1386.40%1.07x
183Dover$1385.80%1.07x
184Punta Gorda$1376.10%1.06x
185Navarre$1375.40%1.06x
186West Palm Beach$1376.20%1.06x
187Saint Petersburg$1366.20%1.06x
188Middleburg$1365.60%1.06x
189Islamorada$1355.80%1.05x
190Spring Hill$1356.10%1.05x
191Brooksville$1346.00%1.04x
192Port Orange$1335.90%1.03x
193Seminole$1325.50%1.02x
194Archer$1315.40%1.02x
195Fleming Island$1314.90%1.01x
196Valrico$1305.00%1.01x
197Bushnell$1306.10%1.01x
198Destin$1295.30%1x
199Sanderson$1295.50%1x
200Kissimmee$1295.80%1x
201Wewahitchka$1295.70%1x
202Nokomis$1295.40%1x
203Tampa$1285.80%1x
204Auburndale$1285.60%0.99x
205Ocoee$1285.10%0.99x
206Miami Beach$1275.50%0.99x
207Winter Park$1275.60%0.99x
208Plant City$1275.50%0.98x
209Cape Coral$1275.50%0.98x
210Christmas$1265.10%0.98x
211Bartow$1265.60%0.98x
212High Springs$1265.30%0.98x
213Indialantic$1255.20%0.97x
214Deerfield Beach$1255.90%0.97x
215Brooker$1255.50%0.97x
216Cocoa Beach$1255.50%0.97x
217Westville$1255.70%0.97x
218Jennings$1255.70%0.97x
219Palatka$1245.90%0.96x
220Brandon$1245.30%0.96x
221Miami$1245.50%0.96x
222Rotonda West$1245.50%0.96x
223Safety Harbor$1235.10%0.95x
224Micanopy$1235.40%0.95x
225Stuart$1225.40%0.95x
226Ocklawaha$1225.80%0.95x
227Sebring$1225.60%0.94x
228Clearwater$1215.50%0.94x
229Miami Gardens$1215.30%0.94x
230East Palatka$1215.40%0.94x
231Saint James City$1205.50%0.93x
232Homestead$1205.30%0.93x
233Hilliard$1205.20%0.93x
234Ponce De Leon$1195.50%0.92x
235Orlando$1195.20%0.92x
236Neptune Beach$1185.00%0.92x
237New Port Richey$1185.40%0.92x
238Fountain$1185.40%0.92x
239Pinellas Park$1175.30%0.91x
240Webster$1175.40%0.91x
241Milton$1174.80%0.91x
242Kathleen$1175.00%0.91x
243Oldsmar$1174.80%0.9x
244North Fort Myers$1175.40%0.9x
245Melbourne Beach$1174.80%0.9x
246Lakeland$1165.10%0.9x
247Palm Bay$1165.10%0.9x
248Wellborn$1165.10%0.9x
249Panama City$1165.20%0.9x
250Molino$1164.80%0.9x
251Lake Wales$1155.50%0.89x
252Haines City$1155.40%0.89x
253Mc Alpin$1155.20%0.89x
254Okeechobee$1145.20%0.88x
255Citra$1145.20%0.88x
256Holt$1144.90%0.88x
257Loxahatchee$1134.30%0.88x
258Inverness$1135.20%0.88x
259Hallandale$1135.40%0.87x
260Hawthorne$1135.10%0.87x
261Hialeah$1135.30%0.87x
262Deltona$1124.90%0.87x
263Largo$1125.10%0.87x
264Lake Placid$1125.20%0.87x
265Dania$1125.20%0.87x
266Keystone Heights$1114.80%0.86x
267Lee$1115.00%0.86x
268Fort Meade$1115.00%0.86x
269Winter Springs$1114.40%0.86x
270Astor$1115.30%0.86x
271Havana$1114.80%0.86x
272Merritt Island$1104.60%0.85x
273Rockledge$1104.50%0.85x
274Tavernier$1094.60%0.85x
275Eglin Afb$1085.70%0.83x
276Shalimar$1074.40%0.83x
277Lake Helen$1074.60%0.83x
278Lynn Haven$1074.40%0.83x
279Chipley$1064.80%0.82x
280Satsuma$1065.00%0.82x
281Eustis$1054.60%0.82x
282Defuniak Springs$1054.90%0.82x
283Santa Rosa Beach$1054.30%0.82x
284Lulu$1054.70%0.81x
285Cantonment$1044.20%0.81x
286Casselberry$1044.60%0.81x
287Dunnellon$1044.70%0.81x
288Opa Locka$1044.90%0.81x
289Fort Walton Beach$1044.60%0.8x
290Midway$1044.30%0.8x
291Dunedin$1034.60%0.8x
292Georgetown$1035.10%0.8x
293Wauchula$1034.60%0.8x
294Bell$1034.40%0.8x
295Palm Coast$1024.40%0.79x
296Avon Park$1014.70%0.79x
297Zolfo Springs$1014.60%0.78x
298Fort Myers$1004.40%0.78x
299Quincy$1004.50%0.78x
300Davenport$1004.40%0.77x
301Port Richey$994.80%0.76x
302Oak Hill$964.50%0.75x
303Macclenny$964.10%0.74x
304Holiday$954.40%0.73x
305Lorida$934.30%0.72x
306Cedar Key$934.20%0.72x
307Fort Myers Beach$924.00%0.71x
308Green Cove Springs$913.80%0.71x
309Thonotosassa$914.10%0.71x
310Cottondale$914.20%0.7x
311Melbourne$913.90%0.7x
312Bascom$904.00%0.7x
313Pahokee$904.40%0.7x
314White Springs$904.10%0.69x
315Alachua$893.60%0.69x
316Cocoa$894.00%0.69x
317Inglis$894.20%0.69x
318Port Saint Joe$883.90%0.68x
319Williston$883.90%0.68x
320Lake Panasoffkee$874.10%0.68x
321Sanford$873.80%0.67x
322Ona$873.80%0.67x
323Sneads$873.90%0.67x
324Mary Esther$863.60%0.67x
325Silver Springs$864.10%0.66x
326Babson Park$853.70%0.66x
327Branford$853.80%0.65x
328Clewiston$853.80%0.65x
329San Mateo$843.90%0.65x
330Mims$843.60%0.65x
331Steinhatchee$823.70%0.63x
332Gretna$813.70%0.63x
333Fort Pierce$813.80%0.62x
334Reddick$783.50%0.6x
335Pensacola$773.50%0.6x
336Panama City Beach$773.40%0.6x
337Interlachen$773.60%0.59x
338Jacksonville$763.40%0.59x
339Old Town$763.50%0.59x
340Century$753.40%0.58x
341Graceville$743.40%0.58x
342Chattahoochee$743.50%0.57x
343Homosassa$733.40%0.57x
344Tallahassee$723.00%0.56x
345Lehigh Acres$723.20%0.56x
346Paisley$713.10%0.55x
347Jasper$713.20%0.55x
348Perry$713.10%0.54x
349Belle Glade$703.40%0.54x
350Hernando$703.10%0.54x
351Campbellton$693.20%0.54x
352Gainesville$652.90%0.51x
353Live Oak$643.00%0.49x
354Alva$642.60%0.49x
355Cape Canaveral$643.00%0.49x
356Crystal River$592.70%0.46x
357Madison$582.70%0.45x
358Bristol$582.50%0.45x
359Jacksonville Beach$582.40%0.45x
360Grand Island$572.40%0.44x
361Center Hill$562.40%0.43x
362Welaka$562.70%0.43x
363Carrabelle$552.50%0.43x
364Hurlburt Field$542.70%0.42x
365Eagle Lake$532.40%0.41x
366Titusville$532.30%0.41x
367Elkton$532.20%0.41x
368Bonifay$522.40%0.4x
369Indian Rocks Beach$512.10%0.39x
370Waldo$502.20%0.38x
371Na$492.20%0.38x
372Grand Ridge$472.10%0.36x
373Altoona$462.10%0.35x
374Gotha$452.00%0.35x
375Arcadia$442.00%0.34x
376Malone$442.00%0.34x
377Bronson$442.00%0.34x
378Pinetta$411.80%0.32x
379Floral City$391.80%0.3x
380Crawfordville$361.50%0.27x
381Labelle$331.50%0.25x
382Chiefland$331.50%0.25x
383Lecanto$281.30%0.22x
384Bowling Green$281.30%0.21x
385Miramar Beach$190.80%0.14x
386Alford$130.60%0.1x
387Venus$120.50%0.08x
388Lawtey$90.40%0.06x
389Beverly Hills-$3-0.10%-0.02x
390Eastpoint-$11-0.40%-0.08x
391Sopchoppy-$19-0.80%-0.14x
392Lake Butler-$26-1.10%-0.2x
393Marianna-$26-1.10%-0.2x
394Mayo-$33-1.40%-0.25x
395Panacea-$33-1.40%-0.25x
396Greenwood-$36-1.60%-0.27x
397Moore Haven-$65-2.90%-0.5x
398Horseshoe Beach-$86-3.60%-0.66x
399Raiford-$169-6.90%-1.31x

The map below shows how every zip code in the state compared for rising insurance rates.

Map shows how auto and home insurance rates have increased by zip code in Florida

What is the Reason Behind Florida's Insurance Rate Hikes?

Rates for home and auto insurance have increased across the country for the past several years, mostly due to higher losses and dwindling profit margins at the insurance companies. We arrived at this by looking at the 'combined loss ratio' of the insurance companies. The ratio shows how much money companies are earning from premiums in comparison to the amount of money they are spending on claims, advertising, agent salaries, etc. A ratio above 100% indicates the company has lost more money than it has gained from premiums. Take a look at the combined loss ratios for the top ten auto and home insurance companies in Florida.

Insurance TypeCombined Loss Ratio 2016Combined Loss Ratio 2014
Auto104.56%100.34%
Home93.73%66.15%

Auto insurance was already above 100% in 2014, but worsened in the past three years. While home insurance companies weren't above 100%, their combined loss ratios jumped nearly 1.5x just over three years - translating into a 50% reduction in their profits. Tower Hill insurance, the second largest homeowners insurance company in Florida, saw their loss ratio double since 2014. To make up for their losses, the companies had to increase rates in hopes of mitigating their extraordinary losses.

What Are Some Causes of Profit Margin Decline?

The issue is that expenses have outpaced revenue growth in the last three years, mostly due to an increase in claims and the severity of those claims. The insurers are quick to blame more accidents and more weather disasters for the increase. In their 2016 annual report, Progressive, Florida's third largest auto insurance company, cited Hurricane Matthew as a reason for its extraordinary losses for that year. Manatee County, the county that has seen the largest increases, has miles of inland coastline prone to flooding. Other counties like Collier, Indian River and Nassau are all coastal and all saw large rate hikes.

Methodology

2014 and 2017 data was obtained from Nielsen Insurance's CLOUT data. Data points reflect the average values for all people surveyed by Nielsen in a given zip code. To adjust for inflation, which was 3% between 2014 and 2017, we multiplied all 2014 values by 3% to convert them to 2017 dollars. The combined loss ratio data was provided courtesy of SNL Financial.

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